Volker Wieland criticizes elimination of the 500-euro banknote ("FAZ", "Börsen-Zeitung")

Prof. Volker Wieland has illustrated the consequences of the elimination of the 500-euro banknote for holding currency. Due to the smaller denomination, the physical weight of the banknotes would rise. "One million euro in 500-euro banknotes weighs 2.4 kilogram, in 100-euro banknotes, however, it's 10.2 kilogram," he said at the cash symposium of Deutsche Bundesbank.

Regarding monetary policy for Wieland there is no need for action with regard to cash. However, even the announcement of cash constraints could cause evasion reactions.

Slides of Volker Wieland's presentation (PDF, 413 KB)
Presentation of Volker Wieland as Video

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